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Property for sale in Philippines

1/ Capital:Manila

Is the capital of the Philippines and one of the 17 cities and municipalities that make up Metro Manila. Located on the eastern shores of Manila Bay just west of the National Capital Region in western side of Luzon, it is one of the central hubs of a thriving metropolitan area home to over 14 million people. Get more information on property for sale in Manila.

2/ Country:Philippines

Is an island country located in Southeast Asia with Manila as its capital city. The Philippines comprises 7,107 islands in the western Pacific Ocean, sharing maritime borders with Indonesia, Malaysia, Palau, the Republic of China (Taiwan), and Vietnam.

3/ Property for sale in Philippines

The Philippines with its 7,100 islands, boast many attractive properties for sale to foreigners. Property prices are excellent when compared with Western prices and the cost of living is also low. Added to this, most of the population speaks English, making for an ideal holiday home or retirement destination.

Most foreign purchase takes place on luxury condo style developments in Manila's best neighborhoods. In addition, there are some condo projects in Cebu, the country's second city. While they represent top-end property for sale in the Philippines, prices are lower than in any other part of Asia, giving rise to strong rental yields for properties located in popular resort areas, where annual returns can often reach around 10%.

Every foreigner who has tried to buy property or just wanted to open a bank account in the Philippines has received a somewhat nasty surprise: It not allowed for foreigners to own something in the Philippines, if not a Filipino partner is available as well. Basically this means that either both share the property with equal rights, or the Filipino owns 51% or more, and the foreigner owns 49 % and less.

Owning of houses or buildings is possible, as long as the foreigner does not own the land on which the house is build. The land though can be leased by the foreigner on a long-term contract, and the house can be legally his.